Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. Assuming there are no externalities, if a firm produces an output levelwhere the benefits to consumers.the cost to suppliers to produce it,then price ismarginal cost.

The objective of the question is to understand the concept of economic efficiency, where the…

Answered: Assuming there are no externalities, if…

Assuming there are no externalities, if a firm produces an output level where the benefits to consumers. the cost to suppliers to produce it, then price is marginal cost.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assuming there are no externalities, if a firm produces an output level
where the benefits to consumers.
the cost to suppliers to produce it,
then price is
marginal cost.

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